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Citizens Leads Credit Facility For HVAC Transaction

Apr 6, 2016 | Reprints | Unlock Link

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Taco Inc. in Cranston, Rhode Island will acquire an Italian manufacturer’s subsidiary with a credit facility lead by Citizens Bank.

Citizens Commercial Banking was the administrative and collateral agent, sole arranger and sole bookrunner in a 10-bank group that provided funds for the HVAC systems manufacturer to acquire the Askoll SEI heating pump subsidiary of Askoll Holding.

“We’re happy to be able to offer our industry expertise as well as our capital markets capabilities to help Taco Inc.’s management team achieve their strategic and financial goals,” Jerry Sargent, head of middle market banking at Citizens Bank, said in a statement.

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